Establishes a means tested senior citizen property tax exemption in Massachusetts.

The bill establishes a means tested senior citizen property tax exemption in Massachusetts. It applies to individuals aged 65 or older or those aged 60 and above if jointly applying. The exemption is based on income limits and property occupancy. Cities and towns can accept the exemption, which is subject to a cap of 0.5% of the fiscal year's total residential property tax levy. The exemption expires every three years but can be renewed by a city or town vote. The Department of Revenue must certify the residential tax rate before the exemption is granted.

Establishes a means tested senior citizen property tax exemption in Massachusetts.

The bill establishes a means tested senior citizen property tax exemption in Massachusetts. It applies to individuals aged 65 or older or those aged 60 and above if jointly applying. The exemption is based on income limits and property occupancy. Cities and towns can accept the exemption, which is subject to a cap of 0.5% of the fiscal year's total residential property tax levy. The exemption expires every three years but can be renewed by a city or town vote. The Department of Revenue must certify the residential tax rate before the exemption is granted.